A lawsuit was filed on behalf of investors in Huazhu Group Limited (NASDAQ: HTHT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/22/2018 -- An investor, who purchased shares of Huazhu Group Limited (NASDAQ: HTHT), filed a lawsuit over alleged Securities Laws violations by Huazhu Group Limited in connection with certain allegedly false and misleading statements.
Investor who purchased shares of Huazhu Group Limited (NASDAQ: HTHT), have certain options and for certain investors are short and strict deadlines running. Deadline: December 7, 2018. NASDAQ: HTHT investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that between May 14, 2018 and August 28, 2018, the Defendants failed to disclose to investors that the Company lacked adequate security measures to protect customer information, that, as a result of the foregoing, the Company would be susceptible to increased litigation risk and higher expenses, that, as a result of the foregoing, the Company's goodwill would potentially suffer, leading to lower revenues, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
On August 29, 2018, media outlets reported that Shanghai police had been alerted to a possible client data breach at Huazhu Group Limited, stating that nearly 500 million pieces of customer-related information, including registration information, personal data, and booking records, had emerged in an online post.
Shares of Shares of Huazhu Group Limited (NASDAQ: HTHT) declined to as low as $30.51 per share on September 7, 2018.
Those who purchased shares of Huazhu Group Limited (NASDAQ: HTHT) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.